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With the world currently experiencing a variety of economic problems, I thought it would be interesting to look at the worst economic crisis in modern history! What was the Great Depression? What caused it? And how did it end? Let’s discuss these questions and more on today’s episode on Thinking in English!

TRANSCRIPT --- https://thinkinginenglish.blog/2022/07/06/what-was-the-great-depression/

157. Why Do Countries Change Their Names? (English Vocabulary Lesson)

156. Should Owning a Dog Be Illegal!?!? (English Vocabulary Lesson)

155. What is an Endangered Language? (English Vocabulary Lesson)

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Recession (n) – a period when the economy of a country is not successful and conditions for business are bad for months

Much of the world fell into recession after the stock market crash in 2007

Depression (n) – a serious economic crisis in which there is very little business activity and little employment for years

The world plunged into depression in the 1930s

Downturn (n) – a reduction in the amount or success of something, such as the economy

There is evidence of a downturn in the housing market

Recklessly (adv) – in a way that is dangerous and shows that you are not thinking about the risks and results of behaviour

She spends her money recklessly

Production (n) –making or growing goods to be sold

Wheat production has fallen over the past 6 months

To trade (v) – buying and selling shares on the stock exchange

The volume of stocks traded today was unusually high

Makeshift (adj) – temporary and of low quality, but used because of sudden need

Thousands of refugees are living in makeshift camps

To stimulate (v) – to encourage something to grow, develop, or become active

The government plans to cut taxes to stimulate the economy

To devalue (v) – to reduce the rate at which money can be exchanged for foreign money

The British pound was devalued and it caused a major economic crisis

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